--- schema_version: "secwatch.filing_event.v1" accession: "0001104659-25-019506" form_type: "8-K" ticker: null cik: "0001458412" company_name: "CROSSFIRST BANKSHARES, INC." filed_at: "2025-03-03T23:59:59+00:00" generated_at: "2026-05-25T17:25:10.650839+00:00" event_type: "m_and_a" sentiment: "neutral" materiality_score: 0.9 calibrated_materiality_score: 0.9 confidence: "high" source: SEC EDGAR --- # CrossFirst Bankshares completes merger with First Busey; CFB shareholders receive 0.6675 Busey shares per CFB share ## Summary - CrossFirst merged with and into Busey on March 1, 2025; each CFB share converted into 0.6675 Busey shares. - CrossFirst common stock delisted from NASDAQ; CrossFirst ceased to exist as separate entity. - Michael J. Maddox appointed Executive Vice Chairman of Busey board and President of Busey; Amy J. Fauss appointed CIO/CTO. - Five CrossFirst directors appointed to Busey's expanded 13-member board. - Bank merger of CrossFirst Bank into Busey Bank expected to close June 20, 2025. ## SEC filing metadata - accession: 0001104659-25-019506 - form_type: 8-K - cik: 0001458412 - company_name: CROSSFIRST BANKSHARES, INC. - filed_at: 2025-03-03T23:59:59+00:00 - event_type: m_and_a - sentiment: neutral - materiality_score: 0.9 - calibrated_materiality_score: 0.9 - confidence: high - sec_items: 2.01, 3.01, 3.03, 5.03, 5.01, 5.02, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1458412/000110465925019506/0001104659-25-019506-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1458412/000110465925019506/tm257858d1_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001104659-25-019506 - JSON: https://secwatch.observer/filing/0001104659-25-019506.json - Plain text: https://secwatch.observer/filing/0001104659-25-019506.txt ## Key facts - Executive change Amy J. Fauss departed as Chief Operating Officer at CROSSFIRST BANKSHARES, INC.. - Action: ceased serving - Role: Chief Operating Officer source text: CrossFirst’s directors and executive officers ceased serving as directors and executive officers of CrossFirst. evidence_url: https://www.sec.gov/Archives/edgar/data/1458412/000110465925019506/0001104659-25-019506-index.htm - Executive change Steven W. Caple was appointed as Director at CROSSFIRST BANKSHARES, INC.. - Action: appointed - Role: Director source text: The five (5) CrossFirst Designated Directors that were appointed by the Busey board of directors to fill the vacancies resulting from the resignations of four (4) members of the Busey board of directors and the increase in the size of the Busey board of directors to thirteen (13) as of the Effective Time, in each case effective from and after the Effective Time, are as follows: Michael J. Maddox, Rodney K. Brenneman, Steven W. Caple, Jennifer M. Grigsby and Kevin S. Rauckman evidence_url: https://www.sec.gov/Archives/edgar/data/1458412/000110465925019506/0001104659-25-019506-index.htm - Executive change Steven W. Caple departed as Director at CROSSFIRST BANKSHARES, INC.. - Action: ceased serving - Role: Director source text: CrossFirst’s directors and executive officers ceased serving as directors and executive officers of CrossFirst. evidence_url: https://www.sec.gov/Archives/edgar/data/1458412/000110465925019506/0001104659-25-019506-index.htm - Executive change Jennifer M. Grigsby departed as Director at CROSSFIRST BANKSHARES, INC.. - Action: ceased serving - Role: Director source text: CrossFirst’s directors and executive officers ceased serving as directors and executive officers of CrossFirst. evidence_url: https://www.sec.gov/Archives/edgar/data/1458412/000110465925019506/0001104659-25-019506-index.htm - Executive change Kevin S. Rauckman departed as Director at CROSSFIRST BANKSHARES, INC.. - Action: ceased serving - Role: Director source text: CrossFirst’s directors and executive officers ceased serving as directors and executive officers of CrossFirst. evidence_url: https://www.sec.gov/Archives/edgar/data/1458412/000110465925019506/0001104659-25-019506-index.htm - Executive change Rodney K. Brenneman departed as Director at CROSSFIRST BANKSHARES, INC.. - Action: ceased serving - Role: Director source text: CrossFirst’s directors and executive officers ceased serving as directors and executive officers of CrossFirst. evidence_url: https://www.sec.gov/Archives/edgar/data/1458412/000110465925019506/0001104659-25-019506-index.htm - Executive change Rodney K. Brenneman was appointed as Director at CROSSFIRST BANKSHARES, INC.. - Action: appointed - Role: Director source text: The five (5) CrossFirst Designated Directors that were appointed by the Busey board of directors to fill the vacancies resulting from the resignations of four (4) members of the Busey board of directors and the increase in the size of the Busey board of directors to thirteen (13) as of the Effective Time, in each case effective from and after the Effective Time, are as follows: Michael J. Maddox, Rodney K. Brenneman, Steven W. Caple, Jennifer M. Grigsby and Kevin S. Rauckman evidence_url: https://www.sec.gov/Archives/edgar/data/1458412/000110465925019506/0001104659-25-019506-index.htm - Executive change Michael J. Maddox was appointed as Executive Vice Chairman of the Busey board of directors and President of Busey at CROSSFIRST BANKSHARES, INC.. - Action: appointed - Role: Executive Vice Chairman of the Busey board of directors and President of Busey source text: Michael J. Maddox, the President and Chief Executive Officer of CrossFirst prior to the Effective Time, was appointed Executive Vice Chairman of the Busey board of directors and as the President of Busey reporting to the Chief Executive Officer of Busey, and as the Chief Executive Officer and President of Busey Bank evidence_url: https://www.sec.gov/Archives/edgar/data/1458412/000110465925019506/0001104659-25-019506-index.htm - Executive change Kevin S. Rauckman was appointed as Director at CROSSFIRST BANKSHARES, INC.. - Action: appointed - Role: Director source text: The five (5) CrossFirst Designated Directors that were appointed by the Busey board of directors to fill the vacancies resulting from the resignations of four (4) members of the Busey board of directors and the increase in the size of the Busey board of directors to thirteen (13) as of the Effective Time, in each case effective from and after the Effective Time, are as follows: Michael J. Maddox, Rodney K. Brenneman, Steven W. Caple, Jennifer M. Grigsby and Kevin S. Rauckman evidence_url: https://www.sec.gov/Archives/edgar/data/1458412/000110465925019506/0001104659-25-019506-index.htm - Executive change Michael J. Maddox departed as President and Chief Executive Officer at CROSSFIRST BANKSHARES, INC.. - Action: ceased serving - Role: President and Chief Executive Officer source text: CrossFirst’s directors and executive officers ceased serving as directors and executive officers of CrossFirst. evidence_url: https://www.sec.gov/Archives/edgar/data/1458412/000110465925019506/0001104659-25-019506-index.htm - Executive change Jennifer M. Grigsby was appointed as Director at CROSSFIRST BANKSHARES, INC.. - Action: appointed - Role: Director source text: The five (5) CrossFirst Designated Directors that were appointed by the Busey board of directors to fill the vacancies resulting from the resignations of four (4) members of the Busey board of directors and the increase in the size of the Busey board of directors to thirteen (13) as of the Effective Time, in each case effective from and after the Effective Time, are as follows: Michael J. Maddox, Rodney K. Brenneman, Steven W. Caple, Jennifer M. Grigsby and Kevin S. Rauckman evidence_url: https://www.sec.gov/Archives/edgar/data/1458412/000110465925019506/0001104659-25-019506-index.htm - Executive change Amy J. Fauss was appointed as Chief Information and Technology Officer at CROSSFIRST BANKSHARES, INC.. - Action: appointed - Role: Chief Information and Technology Officer source text: Amy J. Fauss, the Chief Operating Officer of CrossFirst prior to the Effective Time, was appointed Chief Information and Technology Officer of Busey and Busey Bank. evidence_url: https://www.sec.gov/Archives/edgar/data/1458412/000110465925019506/0001104659-25-019506-index.htm - Governance Changes CROSSFIRST BANKSHARES, INC.: CrossFirst's articles and bylaws ceased to be in effect upon merger; Busey's organizational documents became governing documents. - Change: bylaw amendment source text: As of the Effective Time, the Articles of Incorporation, as amended, and the Bylaws of CrossFirst ceased to be in effect by operation of law. evidence_url: https://www.sec.gov/Archives/edgar/data/1458412/000110465925019506/0001104659-25-019506-index.htm - M&A Transactions CROSSFIRST BANKSHARES, INC. underwent a change of control involving First Busey Corporation for 0.6675 of a share of Busey Common Stock per share of CrossFirst Common Stock (closed 2025-03-01). - Action: change of control - Counterparty: First Busey Corporation - Consideration: 0.6675 of a share of Busey Common Stock per share of CrossFirst Common Stock - Closing: 2025-03-01 source text: Kansas corporation (“CrossFirst”), with and into First Busey Corporation, a Nevada corporation (“Busey”), with Busey as the surviving corporation in the Merger, pursuant to the Agreement and Plan of Merger, dated as of August 26, 2024 (the evidence_url: https://www.sec.gov/Archives/edgar/data/1458412/000110465925019506/0001104659-25-019506-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.